Falvey Cargo Underwriting is a full service cargo insurance underwriting company specializing in High Technology,
Life Science and General Cargo accounts. Our underwriting authority is secured 100% with Underwriters at Lloyd's.
We are committed to tangible solutions that make a difference and demonstrate this through our ProTecht division,
which consists of Loss Prevention , Claims, and Recoveries; our Client Gateway; and our user-friendly web-based Technology platform.

Technology

At Falvey, we know the difference between a memory chip and an ASIC chip, between folding over or vacuum sealing
electrostatic bags. Whether it's wafer boats, fab-less semiconductor manufacturers, or fiber optic equipment,
Falvey has first hand-knowledge of the unique exposures facing our technology clients.

Life Tech

Every day we receive applications from clients developing exciting and revolutionary new medical technologies and life saving pharma
products--from the latest innovations in cancer cures, to diagnostic kits and devices, to drugs that enable premature infants to breathe,
to state-of-the-art robotic surgical devices.

General Cargo

Falvey's expertise is concentrated in the Technology and Life Tech industries, but if you're an Assured that falls outside of the
Technology and Life Tech segments--not to worry--the goods that make the world go round warrant the same expert coverage as our more
sophisticated cargo.

Terrorism

In response to our Clients’ growing concerns with the ever-changing political climate and increased requirements for terrorism coverage
at static locations, Falvey Cargo Underwriting is pleased to partner with Lloyd’s Syndicates to offer cover for Terrorism at static
locations worldwide up to $40,000,000 each location, each occurrence and in the annual aggregate. As always, our Assureds have the
confidence of knowing their coverage is secured 100% with Underwriters at Lloyds; AM Best rated A (Excellent); and Standard and
Poor’s secure rating of A+ (Strong).

ProTecht Risk Solutions

Falvey's groundbreaking Risk Solutions package. Aggressive, proactive and solution-driven, the highly-specialized
ProTecht team travels the world to uncover new ways to maximize security and minimize loss. Working closely with our underwriters,
they offer whatever-it-takes cargo protection that's outside the box and ahead of the pack.

Client Gateway

We've developed a website that permits our Clients to access a password-protected "Client Gateway." With a click of the mouse, Clients can
submit applications for insurance quotes, submit first notices of loss with supporting documentation, view detailed policy information, obtain
loss history reports and real-time claim status, and generate certificates of insurance. Best of all, the Client Gateway can be tailored to
individual client's needs. To obtain Client Gateway access, please contact your Falvey Cargo underwriter.

About Us

About Us

What We Do

What We Do

Recognized as a market leader in underwriting cargo insurance, we specialize in underwriting the technology and life science industries.
With authority up to $40,000,000.--and further capacity up to $125,000,000.--we work with our network of insurance intermediaries to quote,
bind, and issue policies; settle claims in-house within our claims settling authority of $350,000.; conduct subrogation recovery efforts
against carriers; and provide loss prevention guidance and related services.
In addition to providing full-service transit coverage, Falvey Cargo Underwriting also offers coverage for:

exhibitions and trade fairs;

temporary storage, including during processing;

warehouse coverage;

offsite customer trials and demonstrations;

installations;

spoilage and deterioration due to delay;

terrorism.

Headquartered in North Kingstown, Rhode Island, Falvey Cargo Underwriting is a covernote holder secured 100% with Lloyd's, London.
Established in 1995, we specialize in innovative underwriting of technology and life tech products for clients of all sizes--from startups to
Fortune 100 companies, providing global coverage with local service from our offices in Rhode Island and San Francisco.
With 100% security from Lloyd's, Falvey issues policies, settles claims and provides extensive loss prevention services.
Today Falvey is one of the largest binding authorities in the Lloyd's market and is a nationally recognized leader of cargo insurance
and service solutions for the technology and life science industries. Falvey personnel are active, participating members of the American
Institute of Marine Underwriters (AIMU), the Inland Marine Underwriters Association (IMUA), the Transported Asset Protection Association
(TAPA), the Council of Supply Chain Management Professionals and the American Society of Industrial Security.

Voted four years in a row by our employees as "One of the Best Places to Work in Rhode Island", as well as, "Best Places to work in Insurance" in 2010 and 2011, our employees' unwavering dedication and
committment to personal and professional excellence is what makes Falvey unique and separates us from our competitors.

Through broad insuring conditions, flexible valuation, and coverage enhancements such as inclusion of coverage for goods in transit to, from,
and while at Exhibitions and Trade Fairs; Concealed Damage; Control of Damaged Merchandise; and Packaging/Labeling/Branding Clauses, we provide
tangible solutions designed for our Assureds' unique exposures. Falvey's underwriters, claims specialists, and loss prevention experts partner
with our Clients to address the critical issues facing our Technology Assureds including the impact of Packaging, Handling, Carrier Selection,
and Security throughout product development and distribution. In 1997, the Transported Asset Protection Association was created and Falvey
Cargo Underwriting has been an active member since inception. Today, this global force includes most big-name technology shippers and freight
forwarders. This sharing of industry knowledge and expertise between members and our ProTecht team assists Underwriters in making informed
underwriting decisions and benefits our Brokers and Assureds.

We are members of the Council of Supply Chain Management Professionals, the American Society of Industrial Security, and the Transported Asset
Protection Association and incorporate the experience and knowledge of these organizations into our Underwriting and Loss Prevention efforts.

Because these Life Tech products are so vital to the health of this and future generations, Falvey Cargo Underwriting is proud to offer
seamless coverage against physical loss or damage. From research and development through FDA approval, no risk is too small for Falvey
Cargo's underwriting consideration. We are one of the few companies offering a coverage extension for spoilage and deterioration due to
delay beyond the control of the Assured. Through broad insuring conditions, flexible valuation, and inclusion of coverage for Research
Animals, Extra Expense, and Control of Damaged Merchandise, our LifeTech policy is tailored to meet the individual needs of our Assureds.

Falvey's underwriters, claims specialists, and loss prevention experts partner with our Clients to address the critical issues facing our
Life Science Assureds including the impact of Drug Pedigree, Cold Chain Management, and Security throughout product development and
distribution.

We are members of the Parenteral Drug Association, the Pharmaceutical Cold Chain Interest Group, and the Transported Asset
Protection Association and incorporate the experience and knowledge of these organizations into our Underwriting and Loss Prevention efforts.

We've written the gamut--from zipper pulls to auto parts, lawn furniture to cosmetic samples, fashion dolls to
fashion accessories, grapes to fine wine. No account is too small for our consideration and each account is carefully considered
for their unique risks and requirements. Through broad insuring conditions, flexible valuation, and coverage for worldwide shipments
including worldwide inland conveyances, our Assureds can depend on us to provide the coverage they need.

While the Terrorism Risk Insurance Program Reauthorization Act of 2007 (TRIPRA) requires insurers to offer coverage for loss or damage due to
certified acts of terrorism at static locations in the United States, its Territories and Possessions, and Foreign Missions; locations
anywhere else in the World would not be covered by TRIPRA. The Terrorism Physical Loss or Damage Endorsement offers several advantages over
TRIPRA, namely:

Coverage for raw materials, work in process, and finished goods can be obtained at worldwide scheduled locations.

Terrorist acts are defined. Under TRIPRA, terrorism is not defined and must be declared a certified act by certified by the Secretary of the Treasury AND the Secretary of State, AND the Attorney General of the United States (no acts have been declared post- 9/11/2001).

Coverage is not cancelable except for non-payment of premium or cancelation of the marine cargo policy. TRIPRA can be cancelled with 48 hours notice.

At Falvey, your premium dollars are put to better use with a program that is constantly working to prevent and manage losses.
ProTecht Risk Solutions is a complete program that not only includes proactive loss prevention consultation, but also strategic
claims management as well as aggressive recovery techniques designed to eliminate, mitigate and recoup losses.

ProTecht Risk Solutions is the organizational combination of three critical services typically found in most insurance companies –
loss prevention, claims processing and recoveries. Falvey has combined these three disparate functions into one organizational
entity in order to facilitate and encourage communication, analysis, and action planning. The interrelationship between these
functions provides a substantial differentiation in the way Falvey approaches client service in general and loss prevention specifically.

ProTecht is designed to assure that Falvey becomes more of a trusted partner to our assureds and brokers by providing value-added services
that can assist in the day-to-day supply chain risk management with the ultimate goal of significantly reducing losses. In the event of a
loss, ProTecht is designed to mitigate that loss by expeditious claims management as well as aggressive recovery techniques. Falvey’s
approach of financially investing in the processes that will reduce losses by helping our assureds to make their businesses run smoother,
more efficiently and ultimately more profitably is unique in the marine cargo insurance industry.

Falvey’s loss prevention process is predicated on several underlying elements. It is the combination of these elements that provides
the most value to our clients as it improves the risk profile of their supply-chain operations:

Aggressive
Falvey's approach is to work vigorously to identify existing risks and to formulate actionable plans to mitigate those risks. The
experience of Falvey’s loss prevention staff, particularly considering their ability to focus on risks faced by high technology and
life science companies, allows them to draw upon their substantial background to custom-tailor solutions that can be quickly implemented
into supply chain operations. Falvey also moves quickly to remedy those risks that are identified and incorporate collaborative
improvement steps with all supply chain partners.

Comprehensive
Falvey's loss prevention efforts begin with an overall scan of the flow-of-goods within the client’s supply chain. The volume and
velocity of goods passing through specific distribution channels are evaluated. Falvey is then able to isolate certain problematic
geographies that need more specific attention. This approach includes not only procedures within the client’s internal
supply chain, but also considers the responsibilities and operational processes utilized by outside freight forwarders and carriers
to assure supply chain risk is consistent throughout the distribution network.

Continuous
Falvey considers the loss prevention process to be an ongoing, iterative process. As risks are identified and evaluated, action
steps to mitigate the identified risks are implemented, and those preventative steps are audited to assure compliance by all parties.
The circular process then begins again with a new iteration of risk evaluation with additional incremental steps that may become necessary.
Because of the iterative process, it is important for our assureds to remain committed to the loss prevention process on an ongoing
and continuous basis.

Collaborative
Falvey's loss prevention efforts worked in very close alignment with our clients. It is important to have all parties understand
the scope of the loss prevention arrangement and to buy into the committment that it represents. Falvey relies on the cooperation
of critical members of the client staff, particularly in the logistics and security departments. It is critical that Falvey be able
to work in a regular, ongoing basis to obtain new information as it becomes available, understand changes as they are implemented within
the supply chain operation, and to be notified of new business issues or problems as they arise. The collaborative effect of both parties
working in close alignment with each other allows an optimal loss prevention plan to be prepared and implemented as quickly and effectively
as possible.

Although it is almost impossible to assign a value to what we've saved our clients in preventing losses before they occur, Falvey is quite
proud of the substantial achievements in this area. Our loss prevention group is experienced, well-traveled and thoroughly familiar with
cargo handling techniques, advisable and inadvisable transit routes and warehouse facilities, and other special services which are of vital
interest to companies with a need to transport their goods safely and efficiently. The aim is to provide the most current loss prevention
information, and to actively seek out new ways to prevent losses. Falvey’s loss prevention personnel are all members of the Transported
Asset Protection Association (TAPA), and they incorporate the experience and knowledge of those organizations into our loss prevention efforts.

Falvey utilizes a centralized staff of licensed claim specialists whose expertise extends to the handling of any marine cargo claim involving
high technology, life science, capital equipment or general cargo products. Falvey’s claims specialists utilize their detailed knowledge of
the product being shipped as well as their understanding of specialized supply chains to best match the survey/investigation needed in various
loss situations. Falvey’s claim expertise is supplemented by a worldwide surveyor network that includes W.K. Webster as well as other
specialized independent surveyors or investigative firms.

Claims are reported to Falvey from around the world on a 24/7 basis utilizing technology to break down all time
barriers to facilitate claims reporting. Falvey’s “Claims Gateway” is a web-based claim reporting system that provides a user-friendly claim
reporting process and which also allows the capability to attach appropriate supporting documents as part of the initial notice of loss.
Falvey's Claims Gateway also provides "full transparency" whereby users have access to all reported claims data along with any supporting
documentation (including surveyor reports) on any claim.

Falvey's claims specialists are enabled by a web-based, paperless process that allows all claims to be processed and adjusted in an extremely
expeditious manner. In fact, Falvey's claims group adjusts over 70% of all claims within 60 days of when those claims were reported - an operating
statistic that is unmatched anywhere in the marine cargo insurance industry.

The key to Falvey's success with regards to claims management has been our committment to service for all of our assureds and our brokers by
consistently demonstrating claims processing efficiency as a key differentiating factor. Falvey will make every attempt to minimize
inconvenience for our assureds (from claim and survey setup all the way to claim payment) and we will endeavor to keep the broker
informed and involved as necessary. Falvey's emphasis on service, combined with operational speed, efficiency and accuracy (which is embedded
in elements of the claims process) is all designed to pay claims fairly and promptly.

Working hand-in-hand with claims personnel, Falvey's recoveries experts are extremely aggressive in their attempts to mitigate a loss.
Whether they are focused on the physical recovery of stolen products, attempting to obtain settlements for damaged goods (through auction
markets or salvage vendors) or are processing legal actions against logistics providers under rights of subrogation, Falvey's recoveries
staff is tenacious in the pursuit of financial mitigation of an assured's claim.

One of the primary philosophical principles of ProTecht Risk Solutions is "collaboration" - and that is perfectly exemplified by the close
interaction of Falvey's claims and recoveries professionals. Falvey's claims staff manages the entire claims process in very close collaboration
with Falvey's recoveries group with the goal of retrieving lost or stolen goods, or where applicable, by finding a suitable salvage market
for damaged products. In fact, Falvey has institutionalized it's "red flag incident" rapid response to large thefts and hijackings by the
close alignment of the ProTecht management team. Coordinated by recoveries management, the "red flag" process is designed to instill
collaboration amongst Falvey's experts in claims, recoveries and loss prevention as well as with applicable law enforcement agencies worldwide.
As one example of the success of the "red flag" process, one of Falvey's assureds had a truck loaded with computer monitors valued at $1 million
stolen from a freight yard during the Christmas sales season. Falvey's "red flag" team immediately engaged a team of investigators who were
able to locate one-third of the stolen shipment while it was being re-packed by thieves for overseas shipment. A large quantity of the cargo
was promptly returned and made available for sale within the holiday season.

Once a claim is processed and paid, our recoveries group continues to aggressively pursue the party-at-fault to recoup the loss (or at least a
significant portion of it). As part of this process, Falvey is subrogated to our assureds' rights and as such, will seek legal remedies to
pursue the responsible carrier in order to recoup financial losses (legal action is vigorously pursued as a matter of course). When successful,
the result is a reduction in "loss history" for our assured which in turn may reduce future insurance premiums.

It is important to understand that the ProTecht process doesn't end there. Since Falvey’s recovery experts are intricately involved in
understanding the contractual agreements between our assureds and their logistics providers, they become keenly aware of what legal stipulations
could be changed or what contractual improvements might be possible. Frequently, the recoveries staff interacts with Falvey’s loss prevention
consultants to recommend improved, best-in-class standards for contractual verbiage that might be considered by our assureds during an approaching
renegotiation with a specific logistics provider. These recommendations are often focused on improvements in the modification of the contractually
stipulated standards-of-care or an escalation of the agreed upon limits-of-liability of the carrier in the event of damage or loss of the cargo.

Our Certificate system allows Gateway users to generate negotiable certificates of insurance for Letters of Credit transactions.
By using this system, users can create certificate templates, print, search for previously issued certificates, and enter new
Certificates of Insurance.